Now that your vacation has ended, it is a good time to begin your year on the right side with your taxes. Being prepared will enable you to get full income compensation through the help of tax volunteers.
The opening date for filing your taxes was Jan 2,2014, you could complete your taxes for filing using Turbo Tax 2014 prior to that date. Thus, this is the right time to start filing. An advantage of filing very early is that you will get your refunds earlier which is very much a logical action to take.
There is only one week left before the tax season comes to an end for 2012.
Every year at this time, people tend to ask the same types of questions. Let us examine some of the more common issues that people wonder about at this time of year.
Most people are very concerned about whether or not they will get a tax refund. Even though you know the refund is your own money, you tend to be happy when you get a refund and you are likely to feel upset if you have to write a check to the … Read the rest
A dollar-for-dollar reduction of taxes owed is a tax credit. Several tax credits if you claim one and are eligible, are refundable. You can receive the remainder of it in a tax refund even though your tax liability is zero.
Here are 4 refundable tax credits you should consider on your two-thousand eleven federal income tax return to increase your refund:
1.For people earning less than forty-nine thousand and seventy-eight dollars from wages, self-employment or farming there is the Earned Income Tax Credit. Age, Income, and the amount of qualifying children decide … Read the rest